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CapitaLand Group and Microsoft have recently signed a Memorandum of Understanding (MOU) with the goal of utilizing artificial intelligence (AI) and advanced technologies to enhance their businesses.
Under this MOU, CapitaLand will join Microsoft Singapore’s AI Pinnacle Program, which will give them access to Microsoft platforms, services, and solutions. This will enable CapitaLand to improve customer engagement and enhance operational efficiency across all its businesses, including funds, investments, retail, lodging, and development.
One of the key areas of collaboration between the two companies will be infrastructure development. CapitaLand will leverage Microsoft’s Azure cloud computing platform to design data centers and develop new products for CapitaLand Investment. The companies will also work together to integrate AI, data analytics, and machine learning to support CapitaLand’s digital and business transformation efforts.
Quah Ley Hoon, the Group Chief Corporate Officer of CapitaLand Investment, believes that this collaboration with Microsoft is a significant step in their digital transformation journey. He emphasizes that AI will play a crucial role in shaping the future of CapitaLand, driving operational efficiencies and creating value for its stakeholders.
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In addition to the collaboration with Microsoft, CapitaLand Investment has also signed an MOU with the Singapore Business Federation (SBF). This MOU aims to establish a framework for digitalization and AI integration across CapitaLand Investment’s retail ecosystem. Through this partnership, CapitaLand Investment will work towards facilitating the adoption and proof-of-concept for AI, data analytics, and cybersecurity solutions to enhance business efficiency and competitiveness. They will also focus on developing AI-focused competency and skills among their retail tenants.
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Overall, these partnerships with Microsoft and SBF demonstrate CapitaLand’s commitment to embracing digitalization and AI to drive their businesses forward. With their focus on leveraging advanced technologies to improve customer experience and increase operational efficiency, CapitaLand is well-positioned to stay at the forefront of innovation in the real estate industry.